Investment Advisor/Manager: These professionals are responsible for managing the investment portfolios of the clients and ensuring their wealth grows.
Typical salary range of $80,000 to $250,000.
Wealth Strategist: They help families create and implement a wealth plan that aligns with their long-term goals and values.
Typical salary range of $150,000 to $300,000.
Tax Specialist: These professionals help clients with tax planning, compliance and preparation.
Typical salary range of $70,000 to $200,000.
Estate Planner: They help clients with estate planning, including will preparation and asset distribution.
Typical salary of $100,000 to $250,000.
Philanthropy Advisor: They assist clients in identifying their charitable goals and help them to implement them.
Typical salary range of $70,000 to $200,000.
Operations Manager: They are responsible for the day-to-day operations of the Family Office and ensure the smooth running of its various departments.
Typical salary of $80,000 to $200,000.
Compliance Officer: They ensure that the Family Office complies with all relevant regulations and laws.
Typical salary range of $70,000 to $150,000.
Human Resource Manager: They are responsible for managing the HR functions of the Family Office and ensuring that employees are well taken care of.
Typical salary of $80,000 to $200,000.
Marketing & Communications Manager: They are responsible for promoting the brand and services of the Family Office and building relationships with clients.
Typical salary range of $70,000 to $200,000.
Chef: A professional chef is responsible for preparing meals for the family, entertaining guests and ensuring that their dietary needs are met.
Typical salary range of $50,000 to $150,000.
Gardener: They maintain the grounds and gardens of the property, ensuring that they are always in pristine condition.
The typical salary of $40,000 to $100,000.
Childcare Provider: They are responsible for the care and upbringing of the children in the family, including schooling, extracurricular activities and providing a safe and nurturing environment.
Typical salary range of $40,000 to $150,000.
Personal Assistant: They provide administrative and personal support to the family, including scheduling appointments, managing emails and ensuring that their daily needs are met.
Typical salary range of $50,000 to $150,000.
Housekeeper: They maintain the cleanliness and organization of the family's residence, ensuring that everything is in order.
Typical salary range of $30,000 to $70,000.
Driver: They are responsible for transporting the family and guests, ensuring that they arrive at their destination safely and on time.
Typical salary of $40,000 to $100,000.
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Be upfront about any issues or risks that may impact the deal
Any skeletons in the closet will be discovered during DD, so it's better to be open and transparent from the outset: It establishes trust and ultimately saves time
2/ π Prepare comprehensive documentation:
Gather and organize financial records, contracts, corporate governance documents, and relevant policies. Establish a secure and well-organized data room
90% of your data room can be prepared before a single DD question is asked
β How many family offices are hiring
β What areas are family offices hiring for
β Staff turnover
β The recruiting challenges
β Compensation plans
β Planned bonuses
Survey results π
53% of FOs are planning to hire in 2023
The areas FOs are hiring:
Participants were asked if they were
experiencing higher-than-usual voluntary
turnover